The South of Bucharest, champion in low price condos construction in last few years

In the past 5 years, the region with the strongest real estate development in the metropolitan area of Romanian’s capital is the southern part of Bucharest, together with the town Popesti Leordeni. Over one thousand condos are given in usage every 12 months.

Beginning with the year 1990, as almost every European Capital, the Bucharest extension was felt mostly in the northern part of the town. The estate boom brought therefore a great need for large terrains at moderate prices. The big demanding made it so, that the terrain prices in Pipera and Baneasa neighborhoods to be even 10 times higher than the ones from other neighborhoods. The developers began to slowly refocus on other outskirts of the town.

“The year 2005 was the year when the southern part of Bucharest began to change the city’s map, and to the day, Popesti Leordeni and Berceni are the areas with the most dynamic in the capital. Every year, in this part of Bucharest, averaged 1000 condos and a considerable number of villas are completed.” – said Florin Oprea, Sud Imobiliar Expert’s manager.

Another reason which attracted the investors in the town southern from the capital is its proximity to Bucharest, thing that lets its people enjoy from the whole modern infrastructure. Furthermore, the access to the public transport and the subway is very fast.

Last but not least, this is one of the few areas in Bucharest, where a new condo costs less than an old one. For example, the old condo’s owners are asking for a 2 rooms and 40-50 sqm condo, between 45000 and 50000 EUR. In the new residential compound, there are flats with the same area that are almost 5000 EUR cheaper. “The most popular flats are those with 2 rooms, that cost no more than 40000 EUR”, says Florin Oprea.

This price is possible due to the dropping prices in construction materials. Let’s not forget that a few years ago, the same flat would’ve cost around 60000 – 70000 EUR and that was because the costs for raising a building were much higher. “Now you can build villas at prices similar to apartments in the city. Moreover, these homes enjoy all the comfort and 2000s technology, "adds Florin Oprea.

Sud Imobiliar Expert (http://www.sudimobiliarexpert.ro ) is one of the largest real estate agencies in the south part of the city, offering all types of land and new homes in Popesti Leordeni and Berceni, as well as old condos in District 4 in Bucharest.

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